ANCHORAGE, Alaska — For those credit unions that don't consider a mortgage program a core product, time and excuses may be fast running out.

Turnkey programs of varying scale and expertise have been available from outside vendors and CU-owned regional CUSOs for some time. For credit unions large enough to mount their own operation there was no impediment but marketing for increased penetration. Yet the CU mortgage portfolio has barely budged beyond 2%.

Now, a national credit union backed operation is making its debut that could leave CUs that send members elsewhere for a mortgage with little more than an unanswered question: why?

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